Alaska's recent passage of the Permanent Fund (PF) Protection Act as a means for addressing ongoing projected budget gaps may result in the eventual depletion of the PF's Earnings Reserve (PFER). Avoiding that outcome will require more robust revenue growth than currently expected or other offsetting future state (Issuer

The legal backdrop for U.S. state and local pensions has played a key role in reforms adopted by some states in 2018, although pensions in general still face an uphill climb to improve their funding levels.

Worries over the long-term sustainability of pension obligations and the rising budgetary burden of annual

Forty-six states begin a new fiscal year on July 1, and the vast majority will do so with a Stable rating outlook.

The majority of Fitch's U.S. state rating outlooks are Stable and expected to remain so. The two states with Negative Rating Outlooks (Illinois and Pennsylvania) and the one state with a Positive Rating Outlook